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Harvard, already the nation’s wealthiest university, grew its endowment to more than $53 billion in the latest fiscal year, the Ivy League school reported in its annual financial report released Thursday. The $11.3 billion in growth over the previous. ....
For Fiscal Year 2021, the endowment provided $194 million for student scholarships, scientific research and other strategic priorities investments in education and research expected to grow markedly in the coming years. ....
Blackstone Poaches Brown’s Joe Dowling Chair of university’s investment office tapped to co-lead firm’s $78 billion alternative asset unit. Blackstone has named Joseph Dowling, the chair of Brown University’s Investment Office, as its new global co-head of Blackstone Alternative Asset Management along with John McCormick, effective Tuesday. Dowling, who also served as Brown’s vice president and CIO from 2013 to 2018, has been a key part of the growth of the endowment, which has been among the top-performing universities in the country in recent years. Since July, Dowling has been serving in a part-time role at Brown as chair of the investment office and senior adviser to Brown President Christina Paxson. ....
2 Min Read BOSTON, Jan 11 (Reuters) - Blackstone Group, the world’s biggest hedge fund investor, is bringing in a former endowment chief at Brown University as the co-head of its Blackstone Alternative Asset Management (BAAM) unit. The company has hired Joe Dowling to join John McCormick who has run the $78 billion hedge fund unit since early 2018, the company confirmed on Monday. The Wall Street Journal first reported the news. Blackstone’s hedge fund unit backs new hedge funds, invests alongside hedge funds, buys majority stakes in them and offers internally run hedge funds. All businesses have expanded since McCormick was promoted to head the unit. ....
Brown investment leader Joe Dowling to join global investment firm Blackstone Dowling, who has played a key role in the growth of Brown University’s endowment since 2013, will leave Brown to serve as global co-head of Blackstone Alternative Asset Management, effective Jan. 12, 2021. PROVIDENCE, R.I. [Brown University] Joseph “Joe” Dowling, the chair of Brown’s Investment Office who has been instrumental to the growth of the University’s endowment since his arrival at Brown in 2013, will leave the University effective Jan. 12, 2021, to join the global investment firm Blackstone as global co-head of Blackstone Alternative Asset Management. While departing Brown, Dowling will begin service on a volunteer basis as a member of the University’s Investment Committee, pending approval by the Corporation of Brown University, Brown’s governing body. Joe will contribute industry expertise in support of the committee’s role formulating the investment policies tha ....